Carissa Giebel column: How do you own your assets?

7:15 PM,
Aug. 27, 2013

Written by

Carissa Giebel

There are a number of ways to hold title to an asset. Each type of ownership has different rights and obligations. How title is held during life affects how the asset is handled at death. This can be especially important when there are two or more owners of an asset. Below are some examples of ways title can be held.

Sole ownership is the best way for a single person to hold title, unless there is a trust. At death, the assets transfer according to the owner's will. If there is no will, it will transfer according the default provisions in the state statutes. Keep in mind that for a married person in ...